Zacks Research Boosts Earnings Estimates for MGIC Investment

MGIC Investment Co. (NYSE:MTG) – Investment analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for MGIC Investment in a note issued to investors on Monday, November 25th. Zacks Research analyst R. Department now expects that the insurance provider will post earnings per share of $2.84 for the year, up from their prior estimate of $2.71. The consensus estimate for MGIC Investment’s current full-year earnings is $2.81 per share. Zacks Research also issued estimates for MGIC Investment’s Q1 2025 earnings at $0.61 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.66 EPS, Q4 2025 earnings at $0.69 EPS, FY2025 earnings at $2.63 EPS, Q1 2026 earnings at $0.61 EPS, Q2 2026 earnings at $0.65 EPS, Q3 2026 earnings at $0.69 EPS and FY2026 earnings at $2.63 EPS.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.66 by $0.11. The business had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS.

Other research analysts have also issued reports about the company. Roth Mkm lifted their price objective on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays lifted their target price on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Royal Bank of Canada cut their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Finally, BTIG Research lifted their price objective on shares of MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

MGIC Investment Price Performance

MGIC Investment stock opened at $26.11 on Wednesday. The firm has a market cap of $6.62 billion, a P/E ratio of 9.19, a P/E/G ratio of 1.91 and a beta of 1.28. The stock’s 50 day moving average is $25.22 and its 200 day moving average is $23.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. MGIC Investment has a one year low of $17.31 and a one year high of $26.56.

Institutional Investors Weigh In On MGIC Investment

Several institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its holdings in MGIC Investment by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock worth $3,858,000 after acquiring an additional 540 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in MGIC Investment by 1.6% during the second quarter. Nations Financial Group Inc. IA ADV now owns 35,306 shares of the insurance provider’s stock valued at $761,000 after buying an additional 565 shares during the period. Lindenwold Advisors INC grew its position in MGIC Investment by 3.7% during the third quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider’s stock worth $425,000 after buying an additional 592 shares in the last quarter. Fortem Financial Group LLC increased its stake in MGIC Investment by 1.0% in the 2nd quarter. Fortem Financial Group LLC now owns 75,447 shares of the insurance provider’s stock worth $1,626,000 after acquiring an additional 747 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in MGIC Investment by 482.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 946 shares during the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.99%. The ex-dividend date was Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is presently 18.31%.

About MGIC Investment

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.